discuss Were NFTs a fad or a scam?

[Shawn]

A few years ago the word NFT was a daily spoken word in media and by many people in the internet and tech world.

Nowadays, I rarely hear about it.

Was it just a fad? Was it a way for people to scam other people? Did you invest in any NFTs at all

What are your overall opinions about NFTs?

 

[Fidelia1]

I don't even seem to understand what NFTs were. They were just being made popular for nothing. I don't think it was a scam but it didn't just have any real appeal and value that was clear.

 

[Yama]

NFT is not scam, it is not a fad. But it was hugely misused by people. They sold ape sketches as an NFT for insane amount thus mocking the real world of art. Since everything is decentralized, it is not easy to control things like these. NFT wasn't put for a good use case, that was for sure.

I don't even seem to understand what NFTs were. They were just being made popular for nothing. I don't think it was a scam but it didn't just have any real appeal and value that was clear.

There are two types of crypto tokens, one, fungible and two non-fungible. Fungible means they don't have fixed value, they change frequently, for instance, Bitcoin, Ethereum, etc. Non-fungible has fixed value. For instance you could buy non-fungible token or NFT for 1 ETH. The value remains same unless the owner decides to change it.

 

[Apsara]

These days I don't see people talking about NFTs so I have an impression that they were fad.